Many applications involving rotating components require accurate detection of rotor position, speed, and/or direction. Typical rotor position estimation techniques include encoder, resolver, and Hall effect sensor based techniques involving placement of individual permanent magnets with alternating polarities around the circumferential surface or end surface of a shaft or other rotating body. One or more magnetic field sensors are placed within the magnetic field and can produce an output waveform for each north-south pole pair, such that the output waveform may repeat multiple times as a function of revolution of the rotor, and the number of such waveforms is a function of the number of magnetic pairs mounted on the rotor body. These waveforms, however, may not be distinguishable from one another such to provide a location of a single circumferential point. Thus, the need exists for a more accurate position estimation system that can detect discrete points along the rotor circumference at both zero speed and fixed speed.